Manning & Napier Advisors LLC lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,295 shares of the technology company’s stock after selling 17,478 shares during the quarter. Manning & Napier Advisors LLC owned about 0.27% of SBA Communications Corporation worth $45,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of SBA Communications Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock valued at $1,331,442,000 after acquiring an additional 272,381 shares during the period. William Blair Investment Management LLC grew its holdings in shares of SBA Communications Corporation by 8.7% in the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock worth $361,814,000 after purchasing an additional 215,709 shares during the last quarter. Iridian Asset Management LLC CT grew its holdings in shares of SBA Communications Corporation by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after purchasing an additional 1,237,008 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of SBA Communications Corporation by 14.4% in the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock worth $367,734,000 after purchasing an additional 322,085 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of SBA Communications Corporation by 11.6% in the second quarter. Jennison Associates LLC now owns 2,150,624 shares of the technology company’s stock worth $290,119,000 after purchasing an additional 223,805 shares during the last quarter. 95.41% of the stock is currently owned by institutional investors and hedge funds.

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In related news, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $151.79, for a total value of $1,119,603.04. Following the completion of the transaction, the senior vice president now directly owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

SBA Communications Corporation (NASDAQ SBAC) traded up $0.54 during trading hours on Friday, hitting $165.21. 1,060,000 shares of the stock were exchanged, compared to its average volume of 1,200,000. SBA Communications Corporation has a twelve month low of $95.76 and a twelve month high of $170.82. The company has a market cap of $19,360.00, a PE ratio of 206.91 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63.

SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $1.50. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The business had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. During the same period last year, the business earned ($0.12) EPS. The company’s revenue was up 5.5% compared to the same quarter last year. equities analysts expect that SBA Communications Corporation will post 0.98 earnings per share for the current fiscal year.

A number of research analysts have recently commented on SBAC shares. KeyCorp upgraded shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 price target on the stock in a report on Wednesday, September 27th. BidaskClub upgraded shares of SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. UBS AG started coverage on shares of SBA Communications Corporation in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target on the stock. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $159.00 price target (up from $147.00) on shares of SBA Communications Corporation in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $152.33.

SBA Communications Corporation Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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Institutional Ownership by Quarter for SBA Communications Corporation (NASDAQ:SBAC)

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